Thursday, October 31, 2013

Sold some Cathedral Energy, took some profits

Some time ago I talked about Cathedral Energy. I bought some 2300 shares. Not a lot but enough to to give my dividend income an immediate boost with the added promise of a small pot of gold at the end of the stock-picking rainbow. Today I dipped into that pot, selling a thousand shares.

ScotiaMcLeod has a target price of $7 on CET. They see it as a possible outperformer. With some of my remaining shares up more than 40 percent, I figure I'm in a good position to benefit from a price increase with minimal risk of cutting into my initial investment.

This is the kind of situation I love.

Now, about those shares of Labrador Iron Mines I thought were poised for a nice gain . . . I'm still "wishin' and hopin', thinkin' and prayin' . . . " But what I am not doing is gritting my teeth. My exposure is small and the loss, if I must eventually face that reality, will also be small.

Never risk more than you are comfortable losing.

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